EIH unveils expansion plan with 20 properties, including a Nile cruiser

East India Hotels Limited (EIH), the parent of the Oberoi group of hotels, recorded a 40 per cent increase in consolidated net profit to Rs 132 crore in the second quarter ended September 30.

 

The company had reported a net profit of Rs 94.14 crore in the same period last year.

 

Its revenue from operations rose by 12.6 per cent to Rs 622.58 crore, up from Rs 552.49 crore in the same period last year.

 

“Our record-breaking second-quarter results highlight strong demand. This strong financial momentum reflects the unwavering trust our guests place in our brand and the relentless commitment of our teams to deliver outstanding service,” Vikram Oberoi, chief executive officer and managing director, EIH, said in an earnings release.

 

 

The company also outlined a robust expansion plan, with a pipeline of 20 properties to be completed by 2029. This includes 17 hotels, two luxury boats, and a Nile cruiser.

 

Of the 20 properties, nine will be owned, invested in, and operated directly or through joint ventures by EIH Limited. The remaining 11, including the boats and the cruiser, will be managed by the Oberoi Group.

 

Of these, 11 hotels will be located in India, while nine will be in international destinations such as London, Egypt, Bhutan, Nepal, and Saudi Arabia.

 

“Upon completion, four hotels will operate under the Trident brand, comprising a total inventory of approximately 1,350 keys. Additionally, the mixed-use developments in Bengaluru and Pune will include commercial, retail, and food and beverage (F&B) space of approximately 11.71 lakh square feet,” the release added.

 

“Our expansion strategy, with 20 carefully curated properties across strategic global and domestic markets, underscores our ambition to meet the evolving aspirations of today’s discerning travellers,” Oberoi added.